4309_not-searchable
/en/bank-og-finansmarked/statistikker/k3/maaned
4309
Lower growth in total gross debt
statistikk
2007-04-16T10:00:00.000Z
Banking and financial markets
en
k3, The credit indicator C3, total gross debt, foreign debt, debt, credit, total debtFinancial indicators, Banking and financial markets
false

The credit indicator C3, January 2007

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Lower growth in total gross debt

Twelve-month growth in the public’s total gross debt, C3, decreased from 14.0 per cent to 13.3 per cent through January. The major part of the decline came from gross external loan debt for offshore industries, but the growth in domestic gross debt also declined.

Credit indicator C3 by credit sources. Twelve-month growth. Per cent

The annual growth in the public’s gross external loan debt has declined in the last couple of months, which implies that the total gross debt of the public (C3) is growing at a slower pace than the domestic gross debt (C2). Total gross debt (C3) amounted to NOK 3 145 billion at end-January, whereby NOK 2 860 billion (more than 90 per cent) stems from mainland Norway.

Reduced growth in external debt for offshore industries

The public’s gross external loan debt, which mainly relates to non-financial enterprises, amounted to NOK 528 billion at end-January. Twelve-month growth was 7.5 per cent, down from 11.2 per cent to end-December. Nearly 60 per cent of the external loan debt came from mainland Norway. For this part of the foreign debt the annual growth fell from 16.2 per cent to 16.1 per cent, while twelve-month growth in foreign debt of offshore industries fell from 5.2 per cent to -2.5 per cent through December.

Continued high growth in domestic gross debt

The credit indicator C2 amounted to NOK 2 617 billion at end-January. Twelve-month growth was 14.5 per cent, down from 14.6 per cent to end-December. The annual growth in the public’s domestic gross debt is still high, due to the very high growth in non-financial enterprise debt and considerably sharp growth in household debt. See also the C2 statistics at http://www.norges-bank.no/front/statistikk/en/k2/ .

The credit indicator C3 by credit sources.
Twelve-month growth. Per cent
  November 2006 December 2006 January 2007
Total gross debt (C3) 15.0 14.0 13.3
Domestic gross debt (C2)1 14.8 14.6 14.5
Gross external loan debt 15.5 11.2 7.5
1  The growth rates for C2 are in the table presented as they were on
the time of the C3 release.

C3 is an approximate measure of the size of the total gross debt of the public (households, non-financial enterprises and municipalities) in NOK and foreign exchange. C3 comprises the sum of C2 (the public’s domestic gross debt) and the public’s external loan debt where C2 constitutes the major part. The C3 statistics is published approximately one month later than C2.